---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
      name:  <unnamed>
       log:  H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replication package [public]\\result\log_file_main.log
  log type:  text
 opened on:  24 Feb 2025, 14:05:05

. 
. *** T1
. ** T1A
. use "Sample_ctry_year.dta",clear

. 
. reghdfe ln_trade tr2 ,  abs(ctry_id year) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 5 iterations)

HDFE Linear regression                            Number of obs   =      1,985
Absorbing 2 HDFE groups                           F(   1,    146) =      18.61
Statistics robust to heteroskedasticity           Prob > F        =     0.0000
                                                  R-squared       =     0.9768
                                                  Adj R-squared   =     0.9748
                                                  Within R-sq.    =     0.0352
Number of clusters (ctry_id) =        147         Root MSE        =     0.3760

                              (Std. err. adjusted for 147 clusters in ctry_id)
------------------------------------------------------------------------------
             |               Robust
    ln_trade | Coefficient  std. err.      t    P>|t|     [95% conf. interval]
-------------+----------------------------------------------------------------
         tr2 |   .2995451   .0694457     4.31   0.000     .1622963    .4367938
       _cons |   20.91134     .03558   587.73   0.000     20.84102    20.98166
------------------------------------------------------------------------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
     ctry_id |       147         147           0    *|
        year |        15           1          14     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF computation

. outreg2 using "$repfolder\result\T1A.xls", replace dec(3) adjr2  e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replication package [public]\\result\T1A.xls
dir : seeout

. reghdfe ln_trade tr2 $ctrl0,  abs(ctry_id year) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 5 iterations)

HDFE Linear regression                            Number of obs   =      1,985
Absorbing 2 HDFE groups                           F(   7,    146) =      14.03
Statistics robust to heteroskedasticity           Prob > F        =     0.0000
                                                  R-squared       =     0.9805
                                                  Adj R-squared   =     0.9787
                                                  Within R-sq.    =     0.1887
Number of clusters (ctry_id) =        147         Root MSE        =     0.3453

                              (Std. err. adjusted for 147 clusters in ctry_id)
------------------------------------------------------------------------------
             |               Robust
    ln_trade | Coefficient  std. err.      t    P>|t|     [95% conf. interval]
-------------+----------------------------------------------------------------
         tr2 |   .2470184   .0642568     3.84   0.000     .1200247     .374012
       GDP_g |    .004217   .0027581     1.53   0.128     -.001234     .009668
   ln_GDP_pc |   1.346538   .1886744     7.14   0.000     .9736526    1.719424
   EXP_ratio |   .0064663   .0029591     2.19   0.030      .000618    .0123145
   IMP_ratio |   .0033667   .0028595     1.18   0.241    -.0022847    .0090181
     polity2 |   .0102774   .0106237     0.97   0.335    -.0107187    .0312734
     FDI_NIF |   .0027384   .0026257     1.04   0.299    -.0024509    .0079277
       _cons |   8.921976   1.653767     5.39   0.000     5.653561    12.19039
------------------------------------------------------------------------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
     ctry_id |       147         147           0    *|
        year |        15           1          14     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF computation

. outreg2 using "$repfolder\result\T1A.xls", append dec(3) adjr2  e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replication package [public]\\result\T1A.xls
dir : seeout

. 
. reghdfe ln_export tr2,  abs(ctry_id year) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 5 iterations)

HDFE Linear regression                            Number of obs   =      1,985
Absorbing 2 HDFE groups                           F(   1,    146) =      33.03
Statistics robust to heteroskedasticity           Prob > F        =     0.0000
                                                  R-squared       =     0.9744
                                                  Adj R-squared   =     0.9721
                                                  Within R-sq.    =     0.0556
Number of clusters (ctry_id) =        147         Root MSE        =     0.3872

                              (Std. err. adjusted for 147 clusters in ctry_id)
------------------------------------------------------------------------------
             |               Robust
   ln_export | Coefficient  std. err.      t    P>|t|     [95% conf. interval]
-------------+----------------------------------------------------------------
         tr2 |   .3918141   .0681745     5.75   0.000     .2570777    .5265506
       _cons |   20.30969   .0349287   581.46   0.000     20.24065    20.37872
------------------------------------------------------------------------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
     ctry_id |       147         147           0    *|
        year |        15           1          14     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF computation

. outreg2 using "$repfolder\result\T1A.xls", append dec(3) adjr2  e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replication package [public]\\result\T1A.xls
dir : seeout

. reghdfe ln_export tr2 $ctrl0,  abs(ctry_id year) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 5 iterations)

HDFE Linear regression                            Number of obs   =      1,985
Absorbing 2 HDFE groups                           F(   7,    146) =      18.67
Statistics robust to heteroskedasticity           Prob > F        =     0.0000
                                                  R-squared       =     0.9785
                                                  Adj R-squared   =     0.9765
                                                  Within R-sq.    =     0.2074
Number of clusters (ctry_id) =        147         Root MSE        =     0.3553

                              (Std. err. adjusted for 147 clusters in ctry_id)
------------------------------------------------------------------------------
             |               Robust
   ln_export | Coefficient  std. err.      t    P>|t|     [95% conf. interval]
-------------+----------------------------------------------------------------
         tr2 |   .3100655   .0588022     5.27   0.000     .1938522    .4262789
       GDP_g |   .0024571   .0031528     0.78   0.437     -.003774    .0086881
   ln_GDP_pc |   1.417271    .238469     5.94   0.000     .9459742    1.888568
   EXP_ratio |  -.0042314   .0027383    -1.55   0.124    -.0096434    .0011805
   IMP_ratio |   .0088951   .0029833     2.98   0.003     .0029992    .0147911
     polity2 |   .0201759    .011995     1.68   0.095    -.0035304    .0438822
     FDI_NIF |   .0032195   .0027172     1.18   0.238    -.0021506    .0085896
       _cons |    7.88856   2.052552     3.84   0.000     3.832009    11.94511
------------------------------------------------------------------------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
     ctry_id |       147         147           0    *|
        year |        15           1          14     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF computation

. outreg2 using "$repfolder\result\T1A.xls", append dec(3) adjr2  e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replication package [public]\\result\T1A.xls
dir : seeout

. 
. reghdfe ln_import tr2,  abs(ctry_id year) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 5 iterations)

HDFE Linear regression                            Number of obs   =      1,985
Absorbing 2 HDFE groups                           F(   1,    146) =       0.52
Statistics robust to heteroskedasticity           Prob > F        =     0.4702
                                                  R-squared       =     0.8898
                                                  Adj R-squared   =     0.8800
                                                  Within R-sq.    =     0.0011
Number of clusters (ctry_id) =        147         Root MSE        =     1.3192

                              (Std. err. adjusted for 147 clusters in ctry_id)
------------------------------------------------------------------------------
             |               Robust
   ln_import | Coefficient  std. err.      t    P>|t|     [95% conf. interval]
-------------+----------------------------------------------------------------
         tr2 |   .1790412   .2472824     0.72   0.470    -.3096743    .6677567
       _cons |   19.11575   .1266933   150.88   0.000     18.86536    19.36614
------------------------------------------------------------------------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
     ctry_id |       147         147           0    *|
        year |        15           1          14     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF computation

. outreg2 using "$repfolder\result\T1A.xls", append dec(3) adjr2  e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replication package [public]\\result\T1A.xls
dir : seeout

. reghdfe ln_import tr2 $ctrl0,  abs(ctry_id year) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 5 iterations)

HDFE Linear regression                            Number of obs   =      1,985
Absorbing 2 HDFE groups                           F(   7,    146) =       3.09
Statistics robust to heteroskedasticity           Prob > F        =     0.0046
                                                  R-squared       =     0.8913
                                                  Adj R-squared   =     0.8813
                                                  Within R-sq.    =     0.0151
Number of clusters (ctry_id) =        147         Root MSE        =     1.3121

                              (Std. err. adjusted for 147 clusters in ctry_id)
------------------------------------------------------------------------------
             |               Robust
   ln_import | Coefficient  std. err.      t    P>|t|     [95% conf. interval]
-------------+----------------------------------------------------------------
         tr2 |   .1977305   .2373255     0.83   0.406    -.2713068    .6667678
       GDP_g |   .0133634   .0065743     2.03   0.044     .0003703    .0263565
   ln_GDP_pc |   .4954752   .5659935     0.88   0.383    -.6231236    1.614074
   EXP_ratio |   .0211882   .0074756     2.83   0.005     .0064139    .0359625
   IMP_ratio |   -.012699   .0060899    -2.09   0.039    -.0247347   -.0006633
     polity2 |   .0034656   .0244579     0.14   0.888    -.0448717    .0518029
     FDI_NIF |   .0029748   .0035142     0.85   0.399    -.0039705      .00992
       _cons |   14.46983   4.945569     2.93   0.004     4.695677    24.24398
------------------------------------------------------------------------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
     ctry_id |       147         147           0    *|
        year |        15           1          14     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF computation

. outreg2 using "$repfolder\result\T1A.xls", append dec(3) adjr2  e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replication package [public]\\result\T1A.xls
dir : seeout

. 
. ** T1B_1_2
. use "Sample_ctry_ind_year.dta",clear

. 
. reghdfe ln_export tr2 $ctrl0,  abs(ctry_id sitc3 year) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 6 iterations)

HDFE Linear regression                            Number of obs  
>  =    363,961
Absorbing 3 HDFE groups                           F(   7,    147)
>  =      12.38
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.6447
                                                  Adj R-squared  
>  =     0.6443
                                                  Within R-sq.   
>  =     0.0060
Number of clusters (ctry_id) =        148         Root MSE       
>  =     2.5409

                              (Std. err. adjusted for 148 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
   ln_export | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .2457593   .0752014     3.27   0.001     .097143
> 9                                                              
>      .3943748
       GDP_g |   .0088137     .00454     1.94   0.054    -.000158
> 4                                                              
>      .0177858
   ln_GDP_pc |   1.663341   .3021356     5.51   0.000     1.06625
> 1                                                              
>      2.260432
   EXP_ratio |  -.0141801   .0044567    -3.18   0.002    -.022987
> 6                                                              
>     -.0053726
   IMP_ratio |   .0112965   .0039447     2.86   0.005     .003500
> 9                                                              
>      .0190921
     polity2 |   .0024745   .0087768     0.28   0.778    -.014870
> 5                                                              
>      .0198196
     FDI_NIF |   .0034866   .0016634     2.10   0.038     .000199
> 3                                                              
>      .0067739
       _cons |  -1.501673   2.614813    -0.57   0.567    -6.66915
> 4                                                              
>      3.665808
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
     ctry_id |       148         148           0    *|
       sitc3 |       237           1         236     |
        year |        15           1          14     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T1B_1_2.xls", replace dec(3) a
> djr2  e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T1B_1_2.xls
dir : seeout

. reghdfe ln_export tr2 $ctrl0,  abs(ctry_id ind_yr) cluster(ctry
> _id) keepsing nowarn
(MWFE estimator converged in 6 iterations)

HDFE Linear regression                            Number of obs  
>  =    363,961
Absorbing 2 HDFE groups                           F(   7,    147)
>  =      13.16
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.6772
                                                  Adj R-squared  
>  =     0.6738
                                                  Within R-sq.   
>  =     0.0061
Number of clusters (ctry_id) =        148         Root MSE       
>  =     2.4332

                              (Std. err. adjusted for 148 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
   ln_export | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .2179348   .0679865     3.21   0.002     .083577
> 6                                                              
>      .3522921
       GDP_g |   .0093648   .0042883     2.18   0.031     .000890
> 1                                                              
>      .0178396
   ln_GDP_pc |   1.584831   .2875796     5.51   0.000     1.01650
> 7                                                              
>      2.153155
   EXP_ratio |  -.0152465   .0043211    -3.53   0.001     -.02378
> 6                                                              
>      -.006707
   IMP_ratio |   .0108265   .0037589     2.88   0.005      .00339
> 8                                                              
>      .0182551
     polity2 |  -.0026902   .0083166    -0.32   0.747    -.019125
> 7                                                              
>      .0137454
     FDI_NIF |   .0026869   .0015449     1.74   0.084    -.000366
> 1                                                              
>        .00574
       _cons |  -.7160738   2.479955    -0.29   0.773    -5.61704
> 3                                                              
>      4.184895
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
     ctry_id |       148         148           0    *|
      ind_yr |      3555           1        3554     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T1B_1_2.xls", append dec(3) ad
> jr2  e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T1B_1_2.xls
dir : seeout

. 
. ** T1B_3_4
. use "Sample_firm_ctry_year.dta",clear

. 
. reghdfe ln_export_value tr2 $ctrl2, abs(id_cs ctry_id year) clu
> ster(ctry_id) keepsing nowarn
(MWFE estimator converged in 10 iterations)

HDFE Linear regression                            Number of obs  
>  =  5,012,185
Absorbing 3 HDFE groups                           F(  10,    146)
>  =      31.07
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.3206
                                                  Adj R-squared  
>  =     0.3004
                                                  Within R-sq.   
>  =     0.0022
Number of clusters (ctry_id) =        147         Root MSE       
>  =     1.8358

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .0871323   .0239486     3.64   0.000     .039801
> 6                                                              
>      .1344631
        LNTA |   .1921785   .0120938    15.89   0.000     .168276
> 9                                                              
>      .2160801
         LEV |   .0385121   .0072884     5.28   0.000     .024107
> 7                                                              
>      .0529165
         ROA |   .2866884   .0198116    14.47   0.000     .247533
> 8                                                              
>      .3258431
       GDP_g |    .003047   .0012162     2.51   0.013     .000643
> 3                                                              
>      .0054507
   ln_GDP_pc |   .3928145   .1181561     3.32   0.001     .159297
> 2                                                              
>      .6263318
   EXP_ratio |  -.0040141   .0011758    -3.41   0.001     -.00633
> 8                                                              
>     -.0016903
   IMP_ratio |   .0041056   .0012243     3.35   0.001     .001685
> 9                                                              
>      .0065252
     polity2 |   .0015165   .0036496     0.42   0.678    -.005696
> 5                                                              
>      .0087294
     FDI_NIF |  -.0002968    .000284    -1.05   0.298     -.00085
> 8                                                              
>      .0002644
       _cons |   5.018934   1.182159     4.25   0.000     2.68257
> 9                                                              
>      7.355289
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    144546           1      144545     |
     ctry_id |       147         147           0    *|
        year |        14           1          13     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T1B_3_4.xls", replace dec(3) a
> djr2  e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T1B_3_4.xls
dir : seeout

. reghdfe ln_export_value tr2 $ctrl2, abs(id_cs ctry_id ind2#year
> ) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 53 iterations)

HDFE Linear regression                            Number of obs  
>  =  5,012,185
Absorbing 3 HDFE groups                           F(  10,    146)
>  =      29.95
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.3214
                                                  Adj R-squared  
>  =     0.3011
                                                  Within R-sq.   
>  =     0.0020
Number of clusters (ctry_id) =        147         Root MSE       
>  =     1.8348

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .0810403    .022994     3.52   0.001     .035596
> 3                                                              
>      .1264843
        LNTA |   .1849139    .011886    15.56   0.000     .161423
> 2                                                              
>      .2084047
         LEV |    .039458   .0068269     5.78   0.000     .025965
> 6                                                              
>      .0529504
         ROA |   .2820223   .0194806    14.48   0.000     .243521
> 9                                                              
>      .3205226
       GDP_g |   .0031348   .0012264     2.56   0.012     .000711
> 1                                                              
>      .0055585
   ln_GDP_pc |   .3839914   .1147634     3.35   0.001     .157179
> 3                                                              
>      .6108035
   EXP_ratio |  -.0039151   .0011814    -3.31   0.001      -.0062
> 5                                                              
>     -.0015802
   IMP_ratio |   .0041358   .0012119     3.41   0.001     .001740
> 7                                                              
>      .0065308
     polity2 |   .0012103   .0037667     0.32   0.748    -.006233
> 9                                                              
>      .0086545
     FDI_NIF |  -.0003089   .0002785    -1.11   0.269    -.000859
> 3                                                              
>      .0002414
       _cons |   5.181958   1.147397     4.52   0.000     2.91430
> 5                                                              
>      7.449611
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    144546           1      144545     |
     ctry_id |       147         147           0    *|
   ind2#year |       416           2         414     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T1B_3_4.xls", append dec(3) ad
> jr2  e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T1B_3_4.xls
dir : seeout

. 
. 
. *** T2
. use "Sample_ctry_year.dta",clear

. 
. reghdfe ln_tr2_valx p_CHN_reserves p_CHN reserves , abs(ctry_id
>  year) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 5 iterations)
note: p_CHN is probably collinear with the fixed effects (all par
> tialled-out values are close to zero; tol = 1.0e-09)
note: reserves is probably collinear with the fixed effects (all 
> partialled-out values are close to zero; tol = 1.0e-09)

HDFE Linear regression                            Number of obs  
>  =      1,985
Absorbing 2 HDFE groups                           F(   1,    146)
>  =      53.34
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.5317
                                                  Adj R-squared  
>  =     0.4903
                                                  Within R-sq.   
>  =     0.0291
Number of clusters (ctry_id) =        147         Root MSE       
>  =     5.9875

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
 ln_tr2_valx | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
p_CHN_rese~s |   1.353583   .1853363     7.30   0.000     .987294
> 1                                                              
>      1.719871
       p_CHN |          0  (omitted)
    reserves |          0  (omitted)
       _cons |   4.264504   .2248829    18.96   0.000     3.82005
> 8                                                              
>      4.708951
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
     ctry_id |       147         147           0    *|
        year |        15           1          14     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T2.xls", replace dec(3) adjr2 
>  e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T2.xls
dir : seeout

. reghdfe ln_export ln_tr2_valx_pred,  abs(ctry_id year) cluster(
> ctry_id) keepsing nowarn
(MWFE estimator converged in 5 iterations)

HDFE Linear regression                            Number of obs  
>  =      1,985
Absorbing 2 HDFE groups                           F(   1,    146)
>  =      16.47
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0001
                                                  R-squared      
>  =     0.9740
                                                  Adj R-squared  
>  =     0.9717
                                                  Within R-sq.   
>  =     0.0395
Number of clusters (ctry_id) =        147         Root MSE       
>  =     0.3905

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
   ln_export | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
ln_tr2_val~d |   .0764214   .0188283     4.06   0.000     .039210
> 1                                                              
>      .1136327
       _cons |   20.05919   .1111745   180.43   0.000     19.8394
> 7                                                              
>      20.27891
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
     ctry_id |       147         147           0    *|
        year |        15           1          14     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T2.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T2.xls
dir : seeout

. reghdfe ln_export ln_tr2_valx_pred $ctrl0,  abs(ctry_id year) c
> luster(ctry_id) keepsing nowarn
(MWFE estimator converged in 5 iterations)

HDFE Linear regression                            Number of obs  
>  =      1,985
Absorbing 2 HDFE groups                           F(   7,    146)
>  =      12.47
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.9780
                                                  Adj R-squared  
>  =     0.9760
                                                  Within R-sq.   
>  =     0.1876
Number of clusters (ctry_id) =        147         Root MSE       
>  =     0.3597

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
   ln_export | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
ln_tr2_val~d |   .0471147   .0169964     2.77   0.006     .013523
> 9                                                              
>      .0807055
       GDP_g |   .0022577   .0034495     0.65   0.514    -.004559
> 6                                                              
>       .009075
   ln_GDP_pc |   1.433123    .243567     5.88   0.000     .951750
> 7                                                              
>      1.914496
   EXP_ratio |  -.0040881   .0027905    -1.46   0.145    -.009603
> 2                                                              
>      .0014269
   IMP_ratio |   .0088235   .0026963     3.27   0.001     .003494
> 6                                                              
>      .0141524
     polity2 |   .0176871    .012396     1.43   0.156    -.006811
> 7                                                              
>       .042186
     FDI_NIF |   .0029789   .0025394     1.17   0.243    -.002039
> 8                                                              
>      .0079976
       _cons |   7.644735   2.081736     3.67   0.000     3.53050
> 5                                                              
>      11.75896
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
     ctry_id |       147         147           0    *|
        year |        15           1          14     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T2.xls", append adjr2  e(r2_wi
> thin)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T2.xls
dir : seeout

. reghdfe ln_export ln_tr2_valx ln_tr2_valx_r ,  abs(ctry_id year
> ) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 5 iterations)

HDFE Linear regression                            Number of obs  
>  =      1,983
Absorbing 2 HDFE groups                           F(   2,    144)
>  =      13.36
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.9741
                                                  Adj R-squared  
>  =     0.9718
                                                  Within R-sq.   
>  =     0.0480
Number of clusters (ctry_id) =        145         Root MSE       
>  =     0.3889

                              (Std. err. adjusted for 145 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
   ln_export | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
 ln_tr2_valx |   .0764214   .0186795     4.09   0.000        .039
> 5                                                              
>      .1133428
ln_tr2_val~r |  -.0702936   .0187114    -3.76   0.000    -.107278
> 1                                                              
>      -.033309
       _cons |   20.06207   .1102819   181.92   0.000     19.8440
> 9                                                              
>      20.28005
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
     ctry_id |       145         145           0    *|
        year |        15           1          14     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T2.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T2.xls
dir : seeout

. reghdfe ln_export ln_tr2_valx ln_tr2_valx_r $ctrl0,  abs(ctry_i
> d year) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 5 iterations)

HDFE Linear regression                            Number of obs  
>  =      1,983
Absorbing 2 HDFE groups                           F(   8,    144)
>  =      15.58
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.9781
                                                  Adj R-squared  
>  =     0.9761
                                                  Within R-sq.   
>  =     0.1945
Number of clusters (ctry_id) =        145         Root MSE       
>  =     0.3583

                              (Std. err. adjusted for 145 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
   ln_export | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
 ln_tr2_valx |   .0475957   .0168681     2.82   0.005     .014254
> 6                                                              
>      .0809368
ln_tr2_val~r |  -.0420432   .0167238    -2.51   0.013     -.07509
> 9                                                              
>     -.0089875
       GDP_g |   .0016292   .0033961     0.48   0.632    -.005083
> 4                                                              
>      .0083418
   ln_GDP_pc |   1.431248   .2440996     5.86   0.000     .948766
> 9                                                              
>      1.913729
   EXP_ratio |  -.0038367   .0027304    -1.41   0.162    -.009233
> 5                                                              
>      .0015601
   IMP_ratio |   .0086064   .0027297     3.15   0.002     .003210
> 9                                                              
>      .0140019
     polity2 |   .0186035   .0122785     1.52   0.132    -.005665
> 9                                                              
>      .0428729
     FDI_NIF |   .0029921   .0025342     1.18   0.240    -.002016
> 9                                                              
>       .008001
       _cons |   7.655355    2.08777     3.67   0.000     3.52872
> 1                                                              
>      11.78199
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
     ctry_id |       145         145           0    *|
        year |        15           1          14     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T2.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T2.xls
dir : seeout

. 
. *** T3
. use "Sample_ctry_ind_year.dta",clear

. reghdfe ln_export tr2 tr2_rca3_cn RCA_sitc3_china $ctrl0,  abs(
> ctry_id sitc3 year) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 6 iterations)

HDFE Linear regression                            Number of obs  
>  =    363,961
Absorbing 3 HDFE groups                           F(   9,    147)
>  =      90.77
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.6492
                                                  Adj R-squared  
>  =     0.6488
                                                  Within R-sq.   
>  =     0.0186
Number of clusters (ctry_id) =        148         Root MSE       
>  =     2.5247

                              (Std. err. adjusted for 148 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
   ln_export | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .5000807   .0866273     5.77   0.000     .328885
> 1                                                              
>      .6712764
 tr2_rca3_cn |  -.2065488   .0399031    -5.18   0.000    -.285406
> 7                                                              
>     -.1276909
RCA_sitc3_~a |     .70871   .0259384    27.32   0.000     .657449
> 7                                                              
>      .7599703
       GDP_g |   .0088501   .0045183     1.96   0.052    -.000079
> 1                                                              
>      .0177794
   ln_GDP_pc |   1.673673   .3025606     5.53   0.000     1.07574
> 3                                                              
>      2.271604
   EXP_ratio |  -.0142398   .0044457    -3.20   0.002    -.023025
> 6                                                              
>      -.005454
   IMP_ratio |   .0112903    .003883     2.91   0.004     .003616
> 5                                                              
>      .0189641
     polity2 |   .0026045   .0087497     0.30   0.766    -.014686
> 9                                                              
>       .019896
     FDI_NIF |   .0034117   .0016537     2.06   0.041     .000143
> 6                                                              
>      .0066798
       _cons |  -2.457001   2.627332    -0.94   0.351    -7.64922
> 3                                                              
>      2.735221
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
     ctry_id |       148         148           0    *|
       sitc3 |       237           1         236     |
        year |        15           1          14     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T3.xls", replace dec(3) adjr2 
>  e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T3.xls
dir : seeout

. reghdfe ln_export tr2 tr2_rca3_cn RCA_sitc3_china $ctrl0,  abs(
> ctry_id ind_yr) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 6 iterations)
note: RCA_sitc3_china is probably collinear with the fixed effect
> s (all partialled-out values are close to zero; tol = 1.0e-09)

HDFE Linear regression                            Number of obs  
>  =    363,961
Absorbing 2 HDFE groups                           F(   8,    147)
>  =      16.99
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.6785
                                                  Adj R-squared  
>  =     0.6752
                                                  Within R-sq.   
>  =     0.0102
Number of clusters (ctry_id) =        148         Root MSE       
>  =     2.4282

                              (Std. err. adjusted for 148 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
   ln_export | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |    .543149   .0791471     6.86   0.000     .386735
> 9                                                              
>       .699562
 tr2_rca3_cn |  -.2648405   .0435952    -6.07   0.000    -.350994
> 7                                                              
>     -.1786863
RCA_sitc3_~a |          0  (omitted)
       GDP_g |   .0093763    .004283     2.19   0.030     .000912
> 1                                                              
>      .0178404
   ln_GDP_pc |   1.591503   .2880564     5.52   0.000     1.02223
> 7                                                              
>       2.16077
   EXP_ratio |  -.0152074   .0042953    -3.54   0.001     -.02369
> 6                                                              
>     -.0067188
   IMP_ratio |   .0107654   .0036996     2.91   0.004     .003454
> 2                                                              
>      .0180766
     polity2 |  -.0023699   .0083571    -0.28   0.777    -.018885
> 5                                                              
>      .0141456
     FDI_NIF |   .0026263   .0015382     1.71   0.090    -.000413
> 6                                                              
>      .0056662
       _cons |  -.7721361   2.484309    -0.31   0.756     -5.6817
> 1                                                              
>      4.137438
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
     ctry_id |       148         148           0    *|
      ind_yr |      3555           1        3554     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T3.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T3.xls
dir : seeout

. reghdfe ln_export tr2 tr2_rca2_cn RCA_sitc2_china $ctrl0,  abs(
> ctry_id sitc3 year) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 6 iterations)

HDFE Linear regression                            Number of obs  
>  =    363,961
Absorbing 3 HDFE groups                           F(   9,    147)
>  =      75.76
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.6478
                                                  Adj R-squared  
>  =     0.6474
                                                  Within R-sq.   
>  =     0.0145
Number of clusters (ctry_id) =        148         Root MSE       
>  =     2.5300

                              (Std. err. adjusted for 148 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
   ln_export | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .5507029   .0913698     6.03   0.000     .370134
> 9                                                              
>      .7312708
 tr2_rca2_cn |  -.2750576   .0494343    -5.56   0.000    -.372751
> 2                                                              
>     -.1773639
RCA_sitc2_~a |   .7961493   .0314025    25.35   0.000     .734090
> 6                                                              
>       .858208
       GDP_g |   .0088047   .0045456     1.94   0.055    -.000178
> 5                                                              
>       .017788
   ln_GDP_pc |   1.683811   .3041117     5.54   0.000     1.08281
> 6                                                              
>      2.284807
   EXP_ratio |  -.0143184   .0044512    -3.22   0.002    -.023114
> 9                                                              
>     -.0055219
   IMP_ratio |   .0113304   .0039019     2.90   0.004     .003619
> 3                                                              
>      .0190414
     polity2 |   .0027669   .0088208     0.31   0.754    -.014665
> 1                                                              
>      .0201989
     FDI_NIF |   .0034301   .0016616     2.06   0.041     .000146
> 3                                                              
>      .0067139
       _cons |  -2.555486   2.642189    -0.97   0.335    -7.77706
> 8                                                              
>      2.666096
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
     ctry_id |       148         148           0    *|
       sitc3 |       237           1         236     |
        year |        15           1          14     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T3.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T3.xls
dir : seeout

. reghdfe ln_export tr2 tr2_rca2_cn RCA_sitc2_china $ctrl0,  abs(
> ctry_id ind_yr) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 6 iterations)
note: RCA_sitc2_china is probably collinear with the fixed effect
> s (all partialled-out values are close to zero; tol = 1.0e-09)

HDFE Linear regression                            Number of obs  
>  =    363,961
Absorbing 2 HDFE groups                           F(   8,    147)
>  =      17.46
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.6787
                                                  Adj R-squared  
>  =     0.6754
                                                  Within R-sq.   
>  =     0.0109
Number of clusters (ctry_id) =        148         Root MSE       
>  =     2.4273

                              (Std. err. adjusted for 148 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
   ln_export | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .6016559   .0842225     7.14   0.000     .435212
> 7                                                              
>      .7680991
 tr2_rca2_cn |  -.3473795   .0540788    -6.42   0.000    -.454251
> 7                                                              
>     -.2405073
RCA_sitc2_~a |          0  (omitted)
       GDP_g |   .0094231   .0042935     2.19   0.030     .000938
> 2                                                              
>      .0179081
   ln_GDP_pc |   1.605832    .289051     5.56   0.000       1.034
> 6                                                              
>      2.177065
   EXP_ratio |  -.0153515   .0043091    -3.56   0.000    -.023867
> 3                                                              
>     -.0068357
   IMP_ratio |   .0108126   .0037073     2.92   0.004     .003486
> 1                                                              
>       .018139
     polity2 |  -.0021958   .0083916    -0.26   0.794    -.018779
> 6                                                              
>      .0143879
     FDI_NIF |   .0026278   .0015489     1.70   0.092    -.000433
> 2                                                              
>      .0056888
       _cons |  -.8901948   2.492963    -0.36   0.722    -5.81687
> 1                                                              
>      4.036481
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
     ctry_id |       148         148           0    *|
      ind_yr |      3555           1        3554     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T3.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T3.xls
dir : seeout

. 
. *** T4
. use "Sample_firm_ctry_year.dta",clear

. 
. reghdfe ln_export_value tr2 tr2_soex, abs(id_cs ctry_id year) c
> luster(ctry_id) keepsing nowarn
(MWFE estimator converged in 10 iterations)

HDFE Linear regression                            Number of obs  
>  =  5,012,185
Absorbing 3 HDFE groups                           F(   2,    146)
>  =      23.38
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.3193
                                                  Adj R-squared  
>  =     0.2990
                                                  Within R-sq.   
>  =     0.0003
Number of clusters (ctry_id) =        147         Root MSE       
>  =     1.8375

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .0974466   .0294986     3.30   0.001     .039147
> 1                                                              
>      .1557461
    tr2_soex |   .2253836   .0394052     5.72   0.000     .147505
> 3                                                              
>      .3032618
       _cons |   10.96028   .0104475  1049.08   0.000     10.9396
> 3                                                              
>      10.98093
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    144546           1      144545     |
     ctry_id |       147         147           0    *|
        year |        14           1          13     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T4.xls", replace dec(3) adjr2 
>  e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T4.xls
dir : seeout

. reghdfe ln_export_value tr2 tr2_soex $ctrl1, abs(id_cs ctry_id 
> year) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 10 iterations)

HDFE Linear regression                            Number of obs  
>  =  5,012,185
Absorbing 3 HDFE groups                           F(   5,    146)
>  =      52.74
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.3204
                                                  Adj R-squared  
>  =     0.3002
                                                  Within R-sq.   
>  =     0.0020
Number of clusters (ctry_id) =        147         Root MSE       
>  =     1.8359

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .0949126   .0288981     3.28   0.001     .037800
> 1                                                              
>      .1520252
    tr2_soex |   .2320089   .0393244     5.90   0.000     .154290
> 3                                                              
>      .3097276
        LNTA |   .1932579   .0121863    15.86   0.000     .169173
> 6                                                              
>      .2173422
         LEV |   .0373434   .0074288     5.03   0.000     .022661
> 5                                                              
>      .0520254
         ROA |   .2866065   .0197426    14.52   0.000     .247588
> 2                                                              
>      .3256248
       _cons |   8.797661   .1405294    62.60   0.000     8.51992
> 6                                                              
>      9.075395
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    144546           1      144545     |
     ctry_id |       147         147           0    *|
        year |        14           1          13     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T4.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T4.xls
dir : seeout

. reghdfe ln_export_value tr2 tr2_soex $ctrl2, abs(id_cs ctry_id 
> year) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 10 iterations)

HDFE Linear regression                            Number of obs  
>  =  5,012,185
Absorbing 3 HDFE groups                           F(  11,    146)
>  =      28.88
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.3207
                                                  Adj R-squared  
>  =     0.3005
                                                  Within R-sq.   
>  =     0.0024
Number of clusters (ctry_id) =        147         Root MSE       
>  =     1.8356

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .0670857   .0243929     2.75   0.007     .018876
> 9                                                              
>      .1152945
    tr2_soex |   .2445077   .0416312     5.87   0.000     .162229
> 9                                                              
>      .3267854
        LNTA |   .1929256   .0120642    15.99   0.000     .169082
> 6                                                              
>      .2167687
         LEV |   .0380306   .0072979     5.21   0.000     .023607
> 5                                                              
>      .0524537
         ROA |   .2868278   .0197854    14.50   0.000     .247725
> 1                                                              
>      .3259305
       GDP_g |   .0030451   .0012057     2.53   0.013     .000662
> 1                                                              
>       .005428
   ln_GDP_pc |   .4067814   .1221702     3.33   0.001     .165330
> 9                                                              
>      .6482318
   EXP_ratio |  -.0040849   .0011914    -3.43   0.001    -.006439
> 5                                                              
>     -.0017304
   IMP_ratio |   .0041022   .0012332     3.33   0.001      .00166
> 5                                                              
>      .0065394
     polity2 |   .0017542   .0037419     0.47   0.640    -.005641
> 1                                                              
>      .0091494
     FDI_NIF |   -.000298   .0002829    -1.05   0.294    -.000857
> 1                                                              
>      .0002611
       _cons |   4.878973    1.22241     3.99   0.000     2.46306
> 8                                                              
>      7.294878
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    144546           1      144545     |
     ctry_id |       147         147           0    *|
        year |        14           1          13     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T4.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T4.xls
dir : seeout

. reghdfe ln_export_value tr2 tr2_soex $ctrl2, abs(id_cs ctry_id 
> ind2#year) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 53 iterations)

HDFE Linear regression                            Number of obs  
>  =  5,012,185
Absorbing 3 HDFE groups                           F(  11,    146)
>  =      27.74
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.3215
                                                  Adj R-squared  
>  =     0.3013
                                                  Within R-sq.   
>  =     0.0023
Number of clusters (ctry_id) =        147         Root MSE       
>  =     1.8346

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .0619739   .0235987     2.63   0.010     .015334
> 8                                                              
>       .108613
    tr2_soex |   .2356455   .0413414     5.70   0.000     .153940
> 7                                                              
>      .3173503
        LNTA |   .1857465    .011865    15.66   0.000     .162297
> 3                                                              
>      .2091958
         LEV |    .038871   .0068391     5.68   0.000     .025354
> 4                                                              
>      .0523875
         ROA |   .2821341   .0194573    14.50   0.000     .243679
> 6                                                              
>      .3205885
       GDP_g |   .0031316   .0012159     2.58   0.011     .000728
> 6                                                              
>      .0055346
   ln_GDP_pc |   .3981386   .1188257     3.35   0.001     .163298
> 1                                                              
>      .6329792
   EXP_ratio |  -.0039828   .0011954    -3.33   0.001    -.006345
> 3                                                              
>     -.0016204
   IMP_ratio |   .0041339   .0012194     3.39   0.001     .001723
> 9                                                              
>      .0065439
     polity2 |   .0014485   .0038239     0.38   0.705    -.006108
> 9                                                              
>       .009006
     FDI_NIF |  -.0003097   .0002773    -1.12   0.266    -.000857
> 8                                                              
>      .0002384
       _cons |   5.039075     1.1883     4.24   0.000     2.69058
> 3                                                              
>      7.387568
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    144546           1      144545     |
     ctry_id |       147         147           0    *|
   ind2#year |       416           2         414     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T4.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T4.xls
dir : seeout

. 
. *** T5
. use "Sample_firm_ctry_year.dta",clear

. 
. reghdfe ln_export_value tr2 tr2_soex tr2_soex_ROA soex_ROA tr2_
> ROA ROA_lag, abs(id_cs ctry_id year) cluster(ctry_id) keepsing 
> nowarn
(MWFE estimator converged in 11 iterations)

HDFE Linear regression                            Number of obs  
>  =  4,178,697
Absorbing 3 HDFE groups                           F(   6,    146)
>  =      12.81
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.3191
                                                  Adj R-squared  
>  =     0.2981
                                                  Within R-sq.   
>  =     0.0004
Number of clusters (ctry_id) =        147         Root MSE       
>  =     1.8486

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .0845646   .0298124     2.84   0.005     .025645
> 1                                                              
>      .1434841
    tr2_soex |   .2561754   .0424508     6.03   0.000      .17227
> 8                                                              
>      .3400729
tr2_soex_ROA |  -.2369608    .091611    -2.59   0.011    -.418015
> 9                                                              
>     -.0559058
    soex_ROA |   .1140072   .0586456     1.94   0.054    -.001896
> 8                                                              
>      .2299111
     tr2_ROA |   .1577777   .0419652     3.76   0.000     .074839
> 9                                                              
>      .2407154
     ROA_lag |   .0680391   .0211623     3.22   0.002     .026215
> 1                                                              
>       .109863
       _cons |   10.96995   .0109347  1003.23   0.000     10.9483
> 4                                                              
>      10.99156
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    124476           1      124475     |
     ctry_id |       147         147           0    *|
        year |        14           1          13     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T5.xls", replace dec(3) adjr2 
>  e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T5.xls
dir : seeout

. reghdfe ln_export_value tr2 tr2_soex tr2_soex_ROA soex_ROA tr2_
> ROA ROA_lag LNTA LEV , abs(id_cs ctry_id year) cluster(ctry_id)
>  keepsing nowarn
(MWFE estimator converged in 11 iterations)

HDFE Linear regression                            Number of obs  
>  =  4,178,697
Absorbing 3 HDFE groups                           F(   8,    146)
>  =      74.61
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.3200
                                                  Adj R-squared  
>  =     0.2991
                                                  Within R-sq.   
>  =     0.0018
Number of clusters (ctry_id) =        147         Root MSE       
>  =     1.8474

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .0828185   .0291892     2.84   0.005     .025130
> 4                                                              
>      .1405065
    tr2_soex |   .2623822   .0424266     6.18   0.000     .178532
> 5                                                              
>      .3462319
tr2_soex_ROA |  -.2618143   .0917516    -2.85   0.005    -.443147
> 1                                                              
>     -.0804815
    soex_ROA |   .1091094   .0585929     1.86   0.065    -.006690
> 5                                                              
>      .2249093
     tr2_ROA |    .149386   .0420568     3.55   0.001     .066267
> 2                                                              
>      .2325049
     ROA_lag |   .0355985   .0194537     1.83   0.069    -.002848
> 7                                                              
>      .0740458
        LNTA |   .1891837   .0116982    16.17   0.000      .16606
> 4                                                              
>      .2123034
         LEV |   .0161037   .0075871     2.12   0.035      .00110
> 9                                                              
>      .0310983
       _cons |   8.872923   .1335545    66.44   0.000     8.60897
> 4                                                              
>      9.136873
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    124476           1      124475     |
     ctry_id |       147         147           0    *|
        year |        14           1          13     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T5.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T5.xls
dir : seeout

. reghdfe ln_export_value tr2 tr2_soex tr2_soex_ROA soex_ROA tr2_
> ROA ROA_lag LNTA LEV GDP_g ln_GDP_pc EXP_ratio IMP_ratio polity
> 2 FDI_NIF, abs(id_cs ctry_id year) cluster(ctry_id) keepsing no
> warn
(MWFE estimator converged in 11 iterations)

HDFE Linear regression                            Number of obs  
>  =  4,178,697
Absorbing 3 HDFE groups                           F(  14,    146)
>  =      46.59
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.3203
                                                  Adj R-squared  
>  =     0.2994
                                                  Within R-sq.   
>  =     0.0022
Number of clusters (ctry_id) =        147         Root MSE       
>  =     1.8470

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .0575084   .0257649     2.23   0.027      .00658
> 8                                                              
>      .1084288
    tr2_soex |    .275213   .0446395     6.17   0.000     .186989
> 8                                                              
>      .3634361
tr2_soex_ROA |  -.2699296   .0923915    -2.92   0.004    -.452527
> 3                                                              
>      -.087332
    soex_ROA |   .1141294   .0587012     1.94   0.054    -.001884
> 5                                                              
>      .2301433
     tr2_ROA |   .1302508   .0396889     3.28   0.001     .051811
> 8                                                              
>      .2086897
     ROA_lag |   .0421562   .0178135     2.37   0.019     .006950
> 6                                                              
>      .0773619
        LNTA |    .188731   .0115726    16.31   0.000     .165859
> 5                                                              
>      .2116026
         LEV |   .0167501   .0074754     2.24   0.027     .001976
> 2                                                              
>       .031524
       GDP_g |   .0026522   .0010462     2.54   0.012     .000584
> 5                                                              
>      .0047199
   ln_GDP_pc |     .41529   .1210035     3.43   0.001     .176145
> 3                                                              
>      .6544347
   EXP_ratio |  -.0041622   .0011673    -3.57   0.000    -.006469
> 2                                                              
>     -.0018552
   IMP_ratio |    .004071   .0011757     3.46   0.001     .001747
> 4                                                              
>      .0063946
     polity2 |   .0020043    .003763     0.53   0.595    -.005432
> 8                                                              
>      .0094413
     FDI_NIF |  -.0003057   .0003189    -0.96   0.339     -.00093
> 6                                                              
>      .0003246
       _cons |   4.878094   1.203955     4.05   0.000     2.49866
> 3                                                              
>      7.257524
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    124476           1      124475     |
     ctry_id |       147         147           0    *|
        year |        14           1          13     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T5.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T5.xls
dir : seeout

. reghdfe ln_export_value tr2 tr2_soex tr2_soex_ROA soex_ROA tr2_
> ROA ROA_lag LNTA LEV GDP_g ln_GDP_pc EXP_ratio IMP_ratio polity
> 2 FDI_NIF, abs(id_cs ctry_id ind2#year) cluster(ctry_id) keepsi
> ng nowarn
(MWFE estimator converged in 53 iterations)

HDFE Linear regression                            Number of obs  
>  =  4,178,697
Absorbing 3 HDFE groups                           F(  14,    146)
>  =      43.99
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.3211
                                                  Adj R-squared  
>  =     0.3001
                                                  Within R-sq.   
>  =     0.0020
Number of clusters (ctry_id) =        147         Root MSE       
>  =     1.8460

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .0525343   .0250986     2.09   0.038     .002930
> 8                                                              
>      .1021378
    tr2_soex |   .2658215   .0443298     6.00   0.000     .178210
> 5                                                              
>      .3534325
tr2_soex_ROA |  -.2602372   .0919729    -2.83   0.005    -.442007
> 4                                                              
>      -.078467
    soex_ROA |   .1063246   .0583912     1.82   0.071    -.009076
> 5                                                              
>      .2217258
     tr2_ROA |   .1292534   .0394674     3.27   0.001     .051252
> 1                                                              
>      .2072547
     ROA_lag |   .0390022   .0173525     2.25   0.026     .004707
> 6                                                              
>      .0732968
        LNTA |   .1798593   .0113048    15.91   0.000     .157517
> 1                                                              
>      .2022015
         LEV |    .017782   .0071355     2.49   0.014     .003679
> 7                                                              
>      .0318843
       GDP_g |   .0027256   .0010525     2.59   0.011     .000645
> 4                                                              
>      .0048058
   ln_GDP_pc |   .4063235   .1178581     3.45   0.001     .173395
> 3                                                              
>      .6392518
   EXP_ratio |  -.0040587   .0011734    -3.46   0.001    -.006377
> 6                                                              
>     -.0017397
   IMP_ratio |   .0041026   .0011687     3.51   0.001     .001792
> 9                                                              
>      .0064124
     polity2 |    .001726   .0038798     0.44   0.657    -.005941
> 8                                                              
>      .0093938
     FDI_NIF |  -.0003132   .0003113    -1.01   0.316    -.000928
> 4                                                              
>       .000302
       _cons |    5.06024   1.171318     4.32   0.000     2.74531
> 1                                                              
>      7.375169
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    124476           1      124475     |
     ctry_id |       147         147           0    *|
   ind2#year |       415           1         414     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T5.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T5.xls
dir : seeout

. 
. reghdfe ln_export_value tr2 tr2_soex tr2_soex_ROE soex_ROE tr2_
> ROE ROE_lag, abs(id_cs ctry_id year) cluster(ctry_id) keepsing 
> nowarn
(MWFE estimator converged in 11 iterations)

HDFE Linear regression                            Number of obs  
>  =  4,172,595
Absorbing 3 HDFE groups                           F(   6,    146)
>  =      11.34
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.3190
                                                  Adj R-squared  
>  =     0.2981
                                                  Within R-sq.   
>  =     0.0004
Number of clusters (ctry_id) =        147         Root MSE       
>  =     1.8488

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .0879833   .0287802     3.06   0.003     .031103
> 8                                                              
>      .1448629
    tr2_soex |   .2572283   .0419745     6.13   0.000     .174272
> 3                                                              
>      .3401844
tr2_soex_ROE |  -.0979971   .0249956    -3.92   0.000    -.147397
> 1                                                              
>     -.0485972
    soex_ROE |   .0115725   .0123515     0.94   0.350    -.012838
> 3                                                              
>      .0359833
     tr2_ROE |   .0460382   .0097574     4.72   0.000     .026754
> 2                                                              
>      .0653223
     ROE_lag |   .0111985   .0044312     2.53   0.013     .002440
> 9                                                              
>      .0199561
       _cons |   10.97333   .0103962  1055.51   0.000     10.9527
> 9                                                              
>      10.99388
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    124377           1      124376     |
     ctry_id |       147         147           0    *|
        year |        14           1          13     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T5.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T5.xls
dir : seeout

. reghdfe ln_export_value tr2 tr2_soex tr2_soex_ROE soex_ROE tr2_
> ROE ROE_lag LNTA LEV , abs(id_cs ctry_id year) cluster(ctry_id)
>  keepsing nowarn
(MWFE estimator converged in 11 iterations)

HDFE Linear regression                            Number of obs  
>  =  4,172,595
Absorbing 3 HDFE groups                           F(   8,    146)
>  =      60.71
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.3200
                                                  Adj R-squared  
>  =     0.2990
                                                  Within R-sq.   
>  =     0.0018
Number of clusters (ctry_id) =        147         Root MSE       
>  =     1.8475

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .0859746   .0281774     3.05   0.003     .030286
> 4                                                              
>      .1416628
    tr2_soex |   .2632534   .0419408     6.28   0.000     .180363
> 9                                                              
>       .346143
tr2_soex_ROE |    -.10495   .0250416    -4.19   0.000    -.154440
> 9                                                              
>      -.055459
    soex_ROE |   .0170356   .0123514     1.38   0.170     -.00737
> 5                                                              
>      .0414461
     tr2_ROE |   .0439396   .0098379     4.47   0.000     .024496
> 5                                                              
>      .0633826
     ROE_lag |   .0062958   .0042881     1.47   0.144    -.002178
> 9                                                              
>      .0147705
        LNTA |   .1902366   .0117812    16.15   0.000     .166952
> 9                                                              
>      .2135202
         LEV |   .0111093   .0077561     1.43   0.154    -.004219
> 5                                                              
>      .0264382
       _cons |    8.86578   .1338447    66.24   0.000     8.60125
> 6                                                              
>      9.130303
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    124377           1      124376     |
     ctry_id |       147         147           0    *|
        year |        14           1          13     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T5.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T5.xls
dir : seeout

. reghdfe ln_export_value tr2 tr2_soex tr2_soex_ROE soex_ROE tr2_
> ROE ROE_lag LNTA LEV GDP_g ln_GDP_pc EXP_ratio IMP_ratio polity
> 2 FDI_NIF, abs(id_cs ctry_id year) cluster(ctry_id) keepsing no
> warn
(MWFE estimator converged in 11 iterations)

HDFE Linear regression                            Number of obs  
>  =  4,172,595
Absorbing 3 HDFE groups                           F(  14,    146)
>  =      41.57
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.3203
                                                  Adj R-squared  
>  =     0.2993
                                                  Within R-sq.   
>  =     0.0022
Number of clusters (ctry_id) =        147         Root MSE       
>  =     1.8471

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .0599468   .0244935     2.45   0.016     .011539
> 2                                                              
>      .1083544
    tr2_soex |   .2758046   .0441835     6.24   0.000     .188482
> 7                                                              
>      .3631266
tr2_soex_ROE |  -.1042588   .0250936    -4.15   0.000    -.153852
> 5                                                              
>     -.0546652
    soex_ROE |    .016701   .0123134     1.36   0.177    -.007634
> 5                                                              
>      .0410366
     tr2_ROE |   .0397298   .0094104     4.22   0.000     .021131
> 7                                                              
>       .058328
     ROE_lag |   .0076882   .0039895     1.93   0.056    -.000196
> 5                                                              
>      .0155728
        LNTA |   .1897755   .0116567    16.28   0.000     .166737
> 8                                                              
>      .2128132
         LEV |   .0117511   .0076514     1.54   0.127    -.003370
> 7                                                              
>      .0268729
       GDP_g |   .0026387   .0010427     2.53   0.012      .00057
> 8                                                              
>      .0046993
   ln_GDP_pc |   .4170287   .1211917     3.44   0.001      .17751
> 2                                                              
>      .6565454
   EXP_ratio |  -.0041532   .0011719    -3.54   0.001    -.006469
> 2                                                              
>     -.0018371
   IMP_ratio |   .0040611   .0011758     3.45   0.001     .001737
> 3                                                              
>      .0063848
     polity2 |   .0020215   .0037751     0.54   0.593    -.005439
> 4                                                              
>      .0094823
     FDI_NIF |  -.0003076   .0003241    -0.95   0.344    -.000948
> 1                                                              
>      .0003329
       _cons |   4.854543   1.206428     4.02   0.000     2.47022
> 4                                                              
>      7.238862
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    124377           1      124376     |
     ctry_id |       147         147           0    *|
        year |        14           1          13     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T5.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T5.xls
dir : seeout

. reghdfe ln_export_value tr2 tr2_soex tr2_soex_ROE soex_ROE tr2_
> ROE ROE_lag LNTA LEV GDP_g ln_GDP_pc EXP_ratio IMP_ratio polity
> 2 FDI_NIF, abs(id_cs ctry_id ind2#year) cluster(ctry_id) keepsi
> ng nowarn
(MWFE estimator converged in 53 iterations)

HDFE Linear regression                            Number of obs  
>  =  4,172,595
Absorbing 3 HDFE groups                           F(  14,    146)
>  =      37.17
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.3211
                                                  Adj R-squared  
>  =     0.3001
                                                  Within R-sq.   
>  =     0.0020
Number of clusters (ctry_id) =        147         Root MSE       
>  =     1.8461

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .0548661   .0238654     2.30   0.023     .007699
> 9                                                              
>      .1020324
    tr2_soex |   .2668624    .043832     6.09   0.000     .180235
> 1                                                              
>      .3534896
tr2_soex_ROE |  -.1030781   .0248178    -4.15   0.000    -.152126
> 7                                                              
>     -.0540295
    soex_ROE |    .013834   .0122554     1.13   0.261     -.01038
> 7                                                              
>      .0380549
     tr2_ROE |   .0399438   .0094556     4.22   0.000     .021256
> 3                                                              
>      .0586313
     ROE_lag |   .0072776   .0040215     1.81   0.072    -.000670
> 3                                                              
>      .0152255
        LNTA |   .1807928   .0113926    15.87   0.000     .158277
> 1                                                              
>      .2033084
         LEV |   .0129208   .0073224     1.76   0.080    -.001550
> 9                                                              
>      .0273925
       GDP_g |   .0027118   .0010488     2.59   0.011     .000638
> 9                                                              
>      .0047846
   ln_GDP_pc |   .4080531   .1180676     3.46   0.001     .174710
> 8                                                              
>      .6413954
   EXP_ratio |  -.0040491   .0011778    -3.44   0.001    -.006376
> 9                                                              
>     -.0017213
   IMP_ratio |   .0040932   .0011687     3.50   0.001     .001783
> 5                                                              
>       .006403
     polity2 |   .0017433    .003892     0.45   0.655    -.005948
> 7                                                              
>      .0094353
     FDI_NIF |  -.0003154   .0003166    -1.00   0.321    -.000941
> 1                                                              
>      .0003103
       _cons |   5.037707   1.174118     4.29   0.000     2.71724
> 3                                                              
>      7.358171
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    124377           1      124376     |
     ctry_id |       147         147           0    *|
   ind2#year |       415           1         414     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T5.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T5.xls
dir : seeout

. 
. *** T6
. use "Sample_firm_ctry_year.dta",clear

. 
. reghdfe ln_export_value tr2 tr2_soex tr2_soex_lnemp soex_lnemp 
> tr2_lnemp lnemp_lag, abs(id_cs ctry_id year) cluster(ctry_id) k
> eepsing nowarn
(MWFE estimator converged in 11 iterations)

HDFE Linear regression                            Number of obs  
>  =  4,242,180
Absorbing 3 HDFE groups                           F(   6,    146)
>  =      59.53
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.3207
                                                  Adj R-squared  
>  =     0.2999
                                                  Within R-sq.   
>  =     0.0018
Number of clusters (ctry_id) =        147         Root MSE       
>  =     1.8476

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |     .73592   .1834292     4.01   0.000     .373400
> 5                                                              
>      1.098439
    tr2_soex |  -.6457246   .1499436    -4.31   0.000     -.94206
> 5                                                              
>     -.3493842
tr2_soex_l~p |   .1517734    .029102     5.22   0.000     .094257
> 9                                                              
>       .209289
  soex_lnemp |  -.1141102   .0150884    -7.56   0.000      -.1439
> 3                                                              
>     -.0842904
   tr2_lnemp |  -.1126124    .031002    -3.63   0.000    -.173883
> 1                                                              
>     -.0513416
   lnemp_lag |   .1510753   .0150784    10.02   0.000     .121275
> 3                                                              
>      .1808754
       _cons |   10.17749   .0843643   120.64   0.000     10.0107
> 5                                                              
>      10.34422
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    125862           1      125861     |
     ctry_id |       147         147           0    *|
        year |        14           1          13     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T6.xls", replace dec(3) adjr2 
>  e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T6.xls
dir : seeout

. reghdfe ln_export_value tr2 tr2_soex tr2_soex_lnemp soex_lnemp 
> tr2_lnemp lnemp_lag LNTA LEV ROA  , abs(id_cs ctry_id year) clu
> ster(ctry_id) keepsing nowarn
(MWFE estimator converged in 11 iterations)

HDFE Linear regression                            Number of obs  
>  =  4,242,180
Absorbing 3 HDFE groups                           F(   9,    146)
>  =     119.15
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.3215
                                                  Adj R-squared  
>  =     0.3007
                                                  Within R-sq.   
>  =     0.0030
Number of clusters (ctry_id) =        147         Root MSE       
>  =     1.8465

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .7233905   .1828695     3.96   0.000     .361977
> 3                                                              
>      1.084804
    tr2_soex |  -.6632207   .1509784    -4.39   0.000    -.961606
> 3                                                              
>     -.3648352
tr2_soex_l~p |   .1545743   .0292516     5.28   0.000     .096763
> 1                                                              
>      .2123855
  soex_lnemp |  -.1092992    .014918    -7.33   0.000    -.138782
> 3                                                              
>     -.0798162
   tr2_lnemp |  -.1107609   .0309924    -3.57   0.000    -.172012
> 5                                                              
>     -.0495092
   lnemp_lag |   .1156908   .0133335     8.68   0.000     .089339
> 2                                                              
>      .1420425
        LNTA |   .1700589   .0100433    16.93   0.000     .150209
> 9                                                              
>      .1899079
         LEV |   .0376107   .0073971     5.08   0.000     .022991
> 5                                                              
>      .0522298
         ROA |   .2646357   .0180293    14.68   0.000     .229003
> 4                                                              
>      .3002679
       _cons |   8.452476   .1765464    47.88   0.000     8.10355
> 9                                                              
>      8.801392
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    125862           1      125861     |
     ctry_id |       147         147           0    *|
        year |        14           1          13     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T6.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T6.xls
dir : seeout

. reghdfe ln_export_value tr2 tr2_soex tr2_soex_lnemp soex_lnemp 
> tr2_lnemp lnemp_lag LNTA LEV ROA GDP_g ln_GDP_pc EXP_ratio IMP_
> ratio polity2 FDI_NIF, abs(id_cs ctry_id year) cluster(ctry_id)
>  keepsing nowarn
(MWFE estimator converged in 11 iterations)

HDFE Linear regression                            Number of obs  
>  =  4,242,180
Absorbing 3 HDFE groups                           F(  15,    146)
>  =      83.82
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.3218
                                                  Adj R-squared  
>  =     0.3010
                                                  Within R-sq.   
>  =     0.0035
Number of clusters (ctry_id) =        147         Root MSE       
>  =     1.8461

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .7086118   .1789896     3.96   0.000     .354866
> 4                                                              
>      1.062357
    tr2_soex |  -.6706112    .151335    -4.43   0.000    -.969701
> 4                                                              
>      -.371521
tr2_soex_l~p |   .1581018   .0294747     5.36   0.000     .099849
> 6                                                              
>       .216354
  soex_lnemp |  -.1095039   .0150204    -7.29   0.000    -.139189
> 5                                                              
>     -.0798184
   tr2_lnemp |  -.1130825   .0308962    -3.66   0.000    -.174144
> 2                                                              
>     -.0520209
   lnemp_lag |    .116344    .013305     8.74   0.000     .090048
> 9                                                              
>      .1426392
        LNTA |   .1695284   .0099019    17.12   0.000     .149958
> 9                                                              
>       .189098
         LEV |   .0382865   .0072923     5.25   0.000     .023874
> 3                                                              
>      .0526987
         ROA |   .2647553   .0180852    14.64   0.000     .229012
> 7                                                              
>      .3004978
       GDP_g |   .0025605   .0010007     2.56   0.012     .000582
> 8                                                              
>      .0045382
   ln_GDP_pc |   .4445341   .1266427     3.51   0.001     .194244
> 3                                                              
>      .6948239
   EXP_ratio |  -.0042942    .001208    -3.55   0.001    -.006681
> 6                                                              
>     -.0019068
   IMP_ratio |   .0042049   .0011962     3.52   0.001     .001840
> 8                                                              
>      .0065689
     polity2 |   .0027241   .0037467     0.73   0.468    -.004680
> 8                                                              
>      .0101289
     FDI_NIF |  -.0003138   .0003318    -0.95   0.346    -.000969
> 5                                                              
>       .000342
       _cons |   4.170099   1.272614     3.28   0.001     1.65497
> 4                                                              
>      6.685225
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    125862           1      125861     |
     ctry_id |       147         147           0    *|
        year |        14           1          13     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T6.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T6.xls
dir : seeout

. reghdfe ln_export_value tr2 tr2_soex tr2_soex_lnemp soex_lnemp 
> tr2_lnemp lnemp_lag LNTA LEV ROA GDP_g ln_GDP_pc EXP_ratio IMP_
> ratio polity2 FDI_NIF, abs(id_cs ctry_id ind2#year) cluster(ctr
> y_id) keepsing nowarn
(MWFE estimator converged in 53 iterations)

HDFE Linear regression                            Number of obs  
>  =  4,242,180
Absorbing 3 HDFE groups                           F(  15,    146)
>  =      72.90
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.3226
                                                  Adj R-squared  
>  =     0.3018
                                                  Within R-sq.   
>  =     0.0032
Number of clusters (ctry_id) =        147         Root MSE       
>  =     1.8451

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .6951508   .1798101     3.87   0.000     .339783
> 9                                                              
>      1.050518
    tr2_soex |  -.6552545   .1512689    -4.33   0.000    -.954214
> 2                                                              
>     -.3562949
tr2_soex_l~p |   .1542088   .0294425     5.24   0.000     .096020
> 2                                                              
>      .2123974
  soex_lnemp |  -.1021241    .014757    -6.92   0.000    -.131289
> 1                                                              
>     -.0729591
   tr2_lnemp |  -.1115934   .0310012    -3.60   0.000    -.172862
> 4                                                              
>     -.0503244
   lnemp_lag |   .1129834    .013322     8.48   0.000     .086654
> 6                                                              
>      .1393122
        LNTA |   .1624691   .0097283    16.70   0.000     .143242
> 6                                                              
>      .1816956
         LEV |   .0376565   .0070177     5.37   0.000     .023787
> 1                                                              
>       .051526
         ROA |   .2590987   .0180492    14.36   0.000     .223427
> 2                                                              
>      .2947702
       GDP_g |   .0026413    .001008     2.62   0.010     .000649
> 1                                                              
>      .0046335
   ln_GDP_pc |   .4354617   .1234861     3.53   0.001     .191410
> 6                                                              
>      .6795129
   EXP_ratio |  -.0041906   .0012117    -3.46   0.001    -.006585
> 4                                                              
>     -.0017958
   IMP_ratio |   .0042257    .001188     3.56   0.001     .001877
> 7                                                              
>      .0065737
     polity2 |   .0024523   .0038662     0.63   0.527    -.005188
> 6                                                              
>      .0100933
     FDI_NIF |  -.0003172   .0003249    -0.98   0.331    -.000959
> 3                                                              
>      .0003249
       _cons |    4.35006   1.239853     3.51   0.001     1.89968
> 1                                                              
>      6.800439
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    125862           1      125861     |
     ctry_id |       147         147           0    *|
   ind2#year |       415           1         414     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T6.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T6.xls
dir : seeout

. 
. reghdfe ln_export_value tr2 tr2_soex tr2_soex_lnempat soex_lnem
> pat tr2_lnempat lnempat_lag, abs(id_cs ctry_id year) cluster(ct
> ry_id) keepsing nowarn
(MWFE estimator converged in 11 iterations)

HDFE Linear regression                            Number of obs  
>  =  4,180,798
Absorbing 3 HDFE groups                           F(   6,    146)
>  =       9.54
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.3197
                                                  Adj R-squared  
>  =     0.2988
                                                  Within R-sq.   
>  =     0.0013
Number of clusters (ctry_id) =        147         Root MSE       
>  =     1.8477

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |  -.5452661   .1252392    -4.35   0.000     -.79278
> 2                                                              
>     -.2977502
    tr2_soex |   .4686198   .1086861     4.31   0.000     .253818
> 5                                                              
>      .6834211
tr2_soex_l~t |   .0493929   .0173195     2.85   0.005     .015163
> 6                                                              
>      .0836222
soex_lnempat |  -.0268833    .010752    -2.50   0.014    -.048132
> 9                                                              
>     -.0056337
 tr2_lnempat |  -.1204737   .0224921    -5.36   0.000    -.164925
> 8                                                              
>     -.0760217
 lnempat_lag |   .0287704   .0115544     2.49   0.014     .005934
> 9                                                              
>      .0516058
       _cons |   11.11101   .0626184   177.44   0.000     10.9872
> 5                                                              
>      11.23476
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    124539           1      124538     |
     ctry_id |       147         147           0    *|
        year |        14           1          13     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T6.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T6.xls
dir : seeout

. reghdfe ln_export_value tr2 tr2_soex tr2_soex_lnempat soex_lnem
> pat tr2_lnempat lnempat_lag LNTA LEV ROA  , abs(id_cs ctry_id y
> ear) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 11 iterations)

HDFE Linear regression                            Number of obs  
>  =  4,180,798
Absorbing 3 HDFE groups                           F(   9,    146)
>  =      74.09
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.3208
                                                  Adj R-squared  
>  =     0.2999
                                                  Within R-sq.   
>  =     0.0029
Number of clusters (ctry_id) =        147         Root MSE       
>  =     1.8463

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |  -.5484955   .1251396    -4.38   0.000    -.795814
> 6                                                              
>     -.3011765
    tr2_soex |   .4587733     .10794     4.25   0.000     .245446
> 7                                                              
>         .6721
tr2_soex_l~t |    .046932   .0171685     2.73   0.007     .013001
> 2                                                              
>      .0808628
soex_lnempat |  -.0430569   .0109503    -3.93   0.000    -.064698
> 3                                                              
>     -.0214154
 tr2_lnempat |  -.1206637   .0224633    -5.37   0.000     -.16505
> 9                                                              
>     -.0762684
 lnempat_lag |   .0638357    .011767     5.42   0.000       .0405
> 8                                                              
>      .0870913
        LNTA |   .1990389   .0121363    16.40   0.000     .175053
> 3                                                              
>      .2230244
         LEV |   .0428597   .0076604     5.59   0.000     .027720
> 2                                                              
>      .0579992
         ROA |   .2814234   .0194324    14.48   0.000     .243018
> 3                                                              
>      .3198285
       _cons |   9.041382   .1454425    62.16   0.000     8.75393
> 7                                                              
>      9.328826
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    124539           1      124538     |
     ctry_id |       147         147           0    *|
        year |        14           1          13     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T6.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T6.xls
dir : seeout

. reghdfe ln_export_value tr2 tr2_soex tr2_soex_lnempat soex_lnem
> pat tr2_lnempat lnempat_lag LNTA LEV ROA GDP_g ln_GDP_pc EXP_ra
> tio IMP_ratio polity2 FDI_NIF, abs(id_cs ctry_id year) cluster(
> ctry_id) keepsing nowarn
(MWFE estimator converged in 11 iterations)

HDFE Linear regression                            Number of obs  
>  =  4,180,798
Absorbing 3 HDFE groups                           F(  15,    146)
>  =      50.71
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.3210
                                                  Adj R-squared  
>  =     0.3001
                                                  Within R-sq.   
>  =     0.0032
Number of clusters (ctry_id) =        147         Root MSE       
>  =     1.8460

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |  -.5449488   .1227323    -4.44   0.000    -.787510
> 2                                                              
>     -.3023875
    tr2_soex |    .494935   .1114432     4.44   0.000     .274684
> 7                                                              
>      .7151854
tr2_soex_l~t |   .0507433   .0174352     2.91   0.004     .016285
> 2                                                              
>      .0852014
soex_lnempat |  -.0408905   .0111391    -3.67   0.000    -.062905
> 2                                                              
>     -.0188758
 tr2_lnempat |  -.1154758   .0218515    -5.28   0.000    -.158661
> 9                                                              
>     -.0722898
 lnempat_lag |   .0617172   .0113661     5.43   0.000     .039253
> 9                                                              
>      .0841806
        LNTA |   .1985954   .0120756    16.45   0.000     .174729
> 9                                                              
>      .2224609
         LEV |   .0433152   .0075723     5.72   0.000     .028349
> 8                                                              
>      .0582806
         ROA |   .2813173   .0194558    14.46   0.000     .242865
> 9                                                              
>      .3197686
       GDP_g |   .0027993   .0011097     2.52   0.013     .000606
> 2                                                              
>      .0049924
   ln_GDP_pc |   .3586489   .1072849     3.34   0.001     .146616
> 7                                                              
>       .570681
   EXP_ratio |  -.0038199   .0011284    -3.39   0.001      -.0060
> 5                                                              
>     -.0015897
   IMP_ratio |   .0040338   .0011555     3.49   0.001     .001750
> 1                                                              
>      .0063176
     polity2 |   .0009862   .0037261     0.26   0.792    -.006377
> 8                                                              
>      .0083503
     FDI_NIF |  -.0003304    .000314    -1.05   0.294    -.000950
> 9                                                              
>      .0002902
       _cons |   5.574967   1.046659     5.33   0.000     3.50640
> 7                                                              
>      7.643528
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    124539           1      124538     |
     ctry_id |       147         147           0    *|
        year |        14           1          13     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T6.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T6.xls
dir : seeout

. reghdfe ln_export_value tr2 tr2_soex tr2_soex_lnempat soex_lnem
> pat tr2_lnempat lnempat_lag LNTA LEV ROA GDP_g ln_GDP_pc EXP_ra
> tio IMP_ratio polity2 FDI_NIF, abs(id_cs ctry_id ind2#year) clu
> ster(ctry_id) keepsing nowarn
(MWFE estimator converged in 53 iterations)

HDFE Linear regression                            Number of obs  
>  =  4,180,798
Absorbing 3 HDFE groups                           F(  15,    146)
>  =      46.98
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.3218
                                                  Adj R-squared  
>  =     0.3008
                                                  Within R-sq.   
>  =     0.0030
Number of clusters (ctry_id) =        147         Root MSE       
>  =     1.8450

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |  -.5325731   .1222815    -4.36   0.000    -.774243
> 5                                                              
>     -.2909026
    tr2_soex |   .5020288   .1107518     4.53   0.000      .28314
> 5                                                              
>      .7209126
tr2_soex_l~t |    .052733   .0173447     3.04   0.003     .018453
> 8                                                              
>      .0870121
soex_lnempat |  -.0247771    .010325    -2.40   0.018    -.045182
> 8                                                              
>     -.0043714
 tr2_lnempat |  -.1122412    .021679    -5.18   0.000    -.155086
> 4                                                              
>     -.0693959
 lnempat_lag |   .0593542   .0111197     5.34   0.000     .037377
> 7                                                              
>      .0813307
        LNTA |   .1902772   .0119008    15.99   0.000     .166757
> 1                                                              
>      .2137974
         LEV |   .0420997   .0072743     5.79   0.000     .027723
> 2                                                              
>      .0564762
         ROA |   .2736262   .0193536    14.14   0.000     .235376
> 8                                                              
>      .3118757
       GDP_g |   .0028613   .0011162     2.56   0.011     .000655
> 4                                                              
>      .0050673
   ln_GDP_pc |   .3548707   .1053533     3.37   0.001     .146656
> 1                                                              
>      .5630853
   EXP_ratio |  -.0037267   .0011378    -3.28   0.001    -.005975
> 4                                                              
>      -.001478
   IMP_ratio |   .0040566   .0011497     3.53   0.001     .001784
> 3                                                              
>      .0063288
     polity2 |   .0008054   .0038891     0.21   0.836    -.006880
> 9                                                              
>      .0084917
     FDI_NIF |   -.000335   .0003078    -1.09   0.278    -.000943
> 4                                                              
>      .0002733
       _cons |   5.697481    1.02678     5.55   0.000     3.66820
> 9                                                              
>      7.726753
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    124539           1      124538     |
     ctry_id |       147         147           0    *|
   ind2#year |       415           1         414     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T6.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T6.xls
dir : seeout

. 
. *** T7
. use "Sample_price.dta",clear

. 
. reghdfe ln_price tr2 tr2_soex , abs(id_cs ctry_id hs year) clus
> ter(ctry_id) keepsing nowarn
(MWFE estimator converged in 40 iterations)

HDFE Linear regression                            Number of obs  
>  = 11,693,741
Absorbing 4 HDFE groups                           F(   2,    146)
>  =       1.89
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.1550
                                                  R-squared      
>  =     0.8226
                                                  Adj R-squared  
>  =     0.8202
                                                  Within R-sq.   
>  =     0.0000
Number of clusters (ctry_id) =        147         Root MSE       
>  =     0.9368

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
    ln_price | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .0074646   .0042172     1.77   0.079    -.000870
> 1                                                              
>      .0157993
    tr2_soex |  -.0091454   .0077289    -1.18   0.239    -.024420
> 5                                                              
>      .0061296
       _cons |   1.999974   .0012822  1559.81   0.000      1.9974
> 4                                                              
>      2.002508
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    144415           1      144414     |
     ctry_id |       147         147           0    *|
          hs |      9245          10        9235     |
        year |        14           1          13    ?|
-----------------------------------------------------+
? = number of redundant parameters may be higher
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T7.xls", replace dec(3) adjr2 
>  e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T7.xls
dir : seeout

. reghdfe ln_price tr2 tr2_soex $ctrl2, abs(id_cs ctry_id hs year
> ) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 40 iterations)

HDFE Linear regression                            Number of obs  
>  = 11,693,741
Absorbing 4 HDFE groups                           F(  11,    146)
>  =      42.72
Statistics robust to heteroskedasticity           Prob > F       
>  =     0.0000
                                                  R-squared      
>  =     0.8226
                                                  Adj R-squared  
>  =     0.8202
                                                  Within R-sq.   
>  =     0.0001
Number of clusters (ctry_id) =        147         Root MSE       
>  =     0.9368

                              (Std. err. adjusted for 147 cluster
> s in ctry_id)
-----------------------------------------------------------------
> -------------
             |               Robust
    ln_price | Coefficient  std. err.      t    P>|t|     [95% co
> n                                                              
>  f. interval]
-------------+---------------------------------------------------
> -------------
         tr2 |   .0064118   .0042664     1.50   0.135      -.0020
> 2                                                              
>      .0148437
    tr2_soex |   -.009872   .0075194    -1.31   0.191    -.024732
> 9                                                              
>      .0049889
        LNTA |  -.0010869   .0015335    -0.71   0.480    -.004117
> 6                                                              
>      .0019439
         LEV |  -.0042086    .002849    -1.48   0.142    -.009839
> 3                                                              
>      .0014221
         ROA |   .0753639   .0045417    16.59   0.000      .06638
> 8                                                              
>      .0843398
       GDP_g |   .0007861     .00057     1.38   0.170    -.000340
> 4                                                              
>      .0019126
   ln_GDP_pc |  -.0294267   .0254838    -1.15   0.250    -.079791
> 4                                                              
>      .0209381
   EXP_ratio |  -.0005633   .0002917    -1.93   0.055    -.001139
> 9                                                              
>      .0000133
   IMP_ratio |   .0005872    .000307     1.91   0.058    -.000019
> 5                                                              
>      .0011939
     polity2 |  -.0021551   .0013206    -1.63   0.105     -.00476
> 5                                                              
>      .0004548
     FDI_NIF |   .0000811   .0000973     0.83   0.406    -.000111
> 1                                                              
>      .0002734
       _cons |   2.308684   .2544963     9.07   0.000     1.80571
> 2                                                              
>      2.811657
-----------------------------------------------------------------
> -------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    144415           1      144414     |
     ctry_id |       147         147           0    *|
          hs |      9245          10        9235     |
        year |        14           1          13    ?|
-----------------------------------------------------+
? = number of redundant parameters may be higher
* = FE nested within cluster; treated as redundant for DoF comput
> ation

. outreg2 using "$repfolder\result\T7.xls", append dec(3) adjr2  
> e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replic
> ation package [public]\\result\T7.xls
dir : seeout

. reghdfe ln_price tr2 tr2_soex $ctrl2, abs(id_cs ctry_id hs#year
> ) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 54 iterations)

HDFE Linear regression                            Number of obs   = 11,693,741
Absorbing 3 HDFE groups                           F(  11,    146) =      30.82
Statistics robust to heteroskedasticity           Prob > F        =     0.0000
                                                  R-squared       =     0.8357
                                                  Adj R-squared   =     0.8324
                                                  Within R-sq.    =     0.0001
Number of clusters (ctry_id) =        147         Root MSE        =     0.9045

                              (Std. err. adjusted for 147 clusters in ctry_id)
------------------------------------------------------------------------------
             |               Robust
    ln_price | Coefficient  std. err.      t    P>|t|     [95% conf. interval]
-------------+----------------------------------------------------------------
         tr2 |   .0081524   .0035824     2.28   0.024     .0010725    .0152324
    tr2_soex |  -.0053787   .0075598    -0.71   0.478    -.0203194     .009562
        LNTA |  -.0016927   .0012357    -1.37   0.173    -.0041349    .0007495
         LEV |  -.0076589   .0024152    -3.17   0.002    -.0124321   -.0028857
         ROA |   .0549885   .0036799    14.94   0.000     .0477157    .0622614
       GDP_g |   .0006156    .000388     1.59   0.115    -.0001511    .0013824
   ln_GDP_pc |     .03996   .0250355     1.60   0.113    -.0095187    .0894388
   EXP_ratio |  -.0003286   .0002532    -1.30   0.196    -.0008291    .0001719
   IMP_ratio |   .0003362   .0002112     1.59   0.114    -.0000812    .0007536
     polity2 |   -.000914   .0006067    -1.51   0.134    -.0021132    .0002851
     FDI_NIF |    .000144   .0000842     1.71   0.089    -.0000223    .0003104
       _cons |   1.632205   .2469582     6.61   0.000      1.14413     2.12028
------------------------------------------------------------------------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    144415           1      144414     |
     ctry_id |       147         147           0    *|
     hs#year |     84748          98       84650     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF computation

. outreg2 using "$repfolder\result\T7.xls", append dec(3) adjr2  e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replication package [public]\\result\T7.xls
dir : seeout

. reghdfe ln_price tr2 tr2_soex $ctrl2, abs(id_cs ctry_id#hs#year) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 72 iterations)
note: tr2 is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
note: GDP_g is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
note: ln_GDP_pc is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
note: EXP_ratio is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
note: IMP_ratio is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
note: polity2 is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)
note: FDI_NIF is probably collinear with the fixed effects (all partialled-out values are close to zero; tol = 1.0e-09)

HDFE Linear regression                            Number of obs   = 11,693,741
Absorbing 2 HDFE groups                           F(   4,    146) =      72.80
Statistics robust to heteroskedasticity           Prob > F        =     0.0000
                                                  R-squared       =     0.8712
                                                  Adj R-squared   =     0.8393
                                                  Within R-sq.    =     0.0000
Number of clusters (ctry_id) =        147         Root MSE        =     0.8857

                              (Std. err. adjusted for 147 clusters in ctry_id)
------------------------------------------------------------------------------
             |               Robust
    ln_price | Coefficient  std. err.      t    P>|t|     [95% conf. interval]
-------------+----------------------------------------------------------------
         tr2 |          0  (omitted)
    tr2_soex |   .0034365    .007971     0.43   0.667     -.012317    .0191901
        LNTA |  -.0027488   .0013413    -2.05   0.042    -.0053998   -.0000978
         LEV |  -.0068042   .0024416    -2.79   0.006    -.0116297   -.0019787
         ROA |   .0503033   .0038883    12.94   0.000     .0426188    .0579879
       GDP_g |          0  (omitted)
   ln_GDP_pc |          0  (omitted)
   EXP_ratio |          0  (omitted)
   IMP_ratio |          0  (omitted)
     polity2 |          0  (omitted)
     FDI_NIF |          0  (omitted)
       _cons |   2.032434   .0147221   138.05   0.000     2.003338     2.06153
------------------------------------------------------------------------------

Absorbed degrees of freedom:
-------------------------------------------------------------+
         Absorbed FE | Categories  - Redundant  = Num. Coefs |
---------------------+---------------------------------------|
               id_cs |    144415           1      144414     |
     ctry_id#hs#year |   2172795     2172795           0    *|
-------------------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF computation

. outreg2 using "$repfolder\result\T7.xls", append dec(3) adjr2  e(r2_within)
H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replication package [public]\\result\T7.xls
dir : seeout

. 
. *** F1
. ** F1A
. use "Sample_ctry_year.dta",clear

. g _tintra=year-tr2_year
(713 missing values generated)

. 
. replace _tintra = -4 if _tintra <=-4
(48 real changes made)

. replace _tintra =  4 if _tintra >= 4
(1,423 real changes made)

. replace _tintra =. if _tintra==.
(0 real changes made)

. 
. tab _tintra, missing 

    _tintra |      Freq.     Percent        Cum.
------------+-----------------------------------
         -4 |         68        3.43        3.43
         -3 |         26        1.31        4.74
         -2 |         34        1.71        6.45
         -1 |         53        2.67        9.12
          0 |         74        3.73       12.85
          1 |         74        3.73       16.57
          2 |         73        3.68       20.25
          3 |         76        3.83       24.08
          4 |      1,507       75.92      100.00
------------+-----------------------------------
      Total |      1,985      100.00

. generate dx_4  = 0

. replace dx_4  = 1 if _tintra == -4
(68 real changes made)

. generate dx_3  = 0

. replace dx_3  = 1 if _tintra == -3
(26 real changes made)

. generate dx_2  = 0

. replace dx_2  = 1 if _tintra == -2
(34 real changes made)

. generate dx_1  = 0

. replace dx_1  = 1 if _tintra == -1
(53 real changes made)

. 
. generate dx0  = 0

. replace dx0 = 1 if _tintra == 0
(74 real changes made)

. 
. generate dx1  = 0

. replace dx1  = 1 if _tintra == 1
(74 real changes made)

. generate dx2  = 0

. replace dx2  = 1 if _tintra == 2
(73 real changes made)

. generate dx3  = 0

. replace dx3  = 1 if _tintra == 3
(76 real changes made)

. generate dx4  = 0

. replace dx4  = 1 if _tintra == 4
(1,507 real changes made)

.  
. g d_4=dx_4

. g d_3=dx_3

. g d_2=dx_2

. g d_1=dx_1

. g d1=dx1

. g d2=dx2

. g d3=dx3

. g d4=dx4

. 
. label var d_4 "-4"

. label var d_3 "-3"

. label var d_2 "-2"

. label var d_1 "-1"

. label var d1 "1"

. label var d2 "2"

. label var d3 "3"

. label var d4 "4"

. 
. reghdfe ln_export d_4 d_3 d_2 d_1 d1 d2 d3 d4 GDP_g ln_GDP_pc EXP_ratio IMP_ratio polity2 FDI_NIF,  abs(ctry_id year) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 5 iterations)

HDFE Linear regression                            Number of obs   =      1,985
Absorbing 2 HDFE groups                           F(  14,    146) =      10.42
Statistics robust to heteroskedasticity           Prob > F        =     0.0000
                                                  R-squared       =     0.9790
                                                  Adj R-squared   =     0.9770
                                                  Within R-sq.    =     0.2246
Number of clusters (ctry_id) =        147         Root MSE        =     0.3521

                              (Std. err. adjusted for 147 clusters in ctry_id)
------------------------------------------------------------------------------
             |               Robust
   ln_export | Coefficient  std. err.      t    P>|t|     [95% conf. interval]
-------------+----------------------------------------------------------------
         d_4 |  -.2310193   .1191289    -1.94   0.054    -.4664592    .0044206
         d_3 |   -.142757   .0989516    -1.44   0.151    -.3383195    .0528056
         d_2 |  -.0147102   .0821728    -0.18   0.858    -.1771121    .1476917
         d_1 |  -.0916854   .0888845    -1.03   0.304    -.2673519     .083981
          d1 |   .1224551    .045484     2.69   0.008     .0325629    .2123473
          d2 |   .1988934   .0499423     3.98   0.000     .1001902    .2975966
          d3 |   .2164953   .0616706     3.51   0.001     .0946129    .3383778
          d4 |   .3605679   .0782834     4.61   0.000     .2058528    .5152829
       GDP_g |   .0026194   .0031827     0.82   0.412    -.0036707    .0089095
   ln_GDP_pc |   1.367871   .2373311     5.76   0.000     .8988228     1.83692
   EXP_ratio |  -.0028263   .0027046    -1.05   0.298    -.0081715    .0025189
   IMP_ratio |   .0085691   .0028136     3.05   0.003     .0030084    .0141298
     polity2 |   .0188263   .0118265     1.59   0.114    -.0045469    .0421995
     FDI_NIF |   .0031994    .002649     1.21   0.229    -.0020359    .0084347
       _cons |   8.149513   2.042079     3.99   0.000     4.113659    12.18537
------------------------------------------------------------------------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
     ctry_id |       147         147           0    *|
        year |        15           1          14     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF computation

. coefplot , vertical keep (d_4 d_3 d_2 d_1 d1 d2 d3 d4) yline(0)  title("Ln(Export Value)")

. 
. graph save "$repfolder\result\F1A.gph", replace
(file H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replication package [public]\result\F1A.gph not found)
file H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replication package [public]\result\F1A.gph saved

. graph export "$repfolder\result\F1A.png",replace
(file H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replication package [public]\\result\F1A.png not found)
file H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replication package [public]\\result\F1A.png saved as PNG format

. 
. ** F1B. New DiD method (Sun and Abraham 2020)
. 
. use "Sample_ctry_year.dta",clear

. 
. g _tintra=year-tr2_year
(713 missing values generated)

. 
. replace _tintra = -4 if _tintra <=-4
(48 real changes made)

. replace _tintra =  4 if _tintra >= 4
(1,423 real changes made)

. replace _tintra =. if _tintra==.
(0 real changes made)

. 
. tab _tintra, missing 

    _tintra |      Freq.     Percent        Cum.
------------+-----------------------------------
         -4 |         68        3.43        3.43
         -3 |         26        1.31        4.74
         -2 |         34        1.71        6.45
         -1 |         53        2.67        9.12
          0 |         74        3.73       12.85
          1 |         74        3.73       16.57
          2 |         73        3.68       20.25
          3 |         76        3.83       24.08
          4 |      1,507       75.92      100.00
------------+-----------------------------------
      Total |      1,985      100.00

. generate dx_4  = 0

. replace dx_4  = 1 if _tintra == -4
(68 real changes made)

. generate dx_3  = 0

. replace dx_3  = 1 if _tintra == -3
(26 real changes made)

. generate dx_2  = 0

. replace dx_2  = 1 if _tintra == -2
(34 real changes made)

. generate dx_1  = 0

. replace dx_1  = 1 if _tintra == -1
(53 real changes made)

. 
. generate dx0  = 0

. replace dx0 = 1 if _tintra == 0
(74 real changes made)

. 
. generate dx1  = 0

. replace dx1  = 1 if _tintra == 1
(74 real changes made)

. generate dx2  = 0

. replace dx2  = 1 if _tintra == 2
(73 real changes made)

. generate dx3  = 0

. replace dx3  = 1 if _tintra == 3
(76 real changes made)

. generate dx4  = 0

. replace dx4  = 1 if _tintra == 4
(1,507 real changes made)

.  
. g d_4=dx_4

. g d_3=dx_3

. g d_2=dx_2

. g d_1=dx_1

. g d1=dx1

. g d2=dx2

. g d3=dx3

. g d4=dx4

. 
. label var d_4 "-4"

. label var d_3 "-3"

. label var d_2 "-2"

. label var d_1 "-1"

. label var d1 "1"

. label var d2 "2"

. label var d3 "3"

. label var d4 "4"

. 
. g never_treat=(mi(tr2_year))

. egen maxyear=max(tr2_year)

. g last=(year==maxyear)

. replace last=1 if never_treat==1
(664 real changes made)

. eventstudyinteract ln_export d_4 d_3 d_2 d_1 d1 d2 d3 d4, covariates(GDP_g ln_GDP_pc EXP_ratio IMP_ratio polity2 FDI_NIF) cohort(tr2_year) control_cohort(never_treat) absorb(ctry_id year) vce(cluster ctry_id) 
(obs=1,272)

IW estimates for dynamic effects                        Number of obs =  1,983
Absorbing 2 HDFE groups                                 F(90, 144)    =      .
                                                        Prob > F      =      .
                                                        R-squared     = 0.9799
                                                        Adj R-squared = 0.9770
                                                        Root MSE      = 0.3509
                              (Std. err. adjusted for 145 clusters in ctry_id)
------------------------------------------------------------------------------
             |               Robust
   ln_export | Coefficient  std. err.      t    P>|t|     [95% conf. interval]
-------------+----------------------------------------------------------------
         d_4 |  -.3077347   .1133147    -2.72   0.007    -.5317097   -.0837597
         d_3 |  -.1113028   .0999813    -1.11   0.267    -.3089233    .0863178
         d_2 |  -.0330139   .0700516    -0.47   0.638    -.1714761    .1054482
         d_1 |  -.0775721   .0801311    -0.97   0.335    -.2359572     .080813
          d1 |   .1165582   .0439545     2.65   0.009     .0296788    .2034376
          d2 |   .1865034   .0506396     3.68   0.000     .0864104    .2865963
          d3 |   .2032805   .0665979     3.05   0.003     .0716449    .3349162
          d4 |   .3526504   .1002406     3.52   0.001     .1545174    .5507834
------------------------------------------------------------------------------

. 
. matrix C = e(b_iw)

. mata st_matrix("A",sqrt(diagonal(st_matrix("e(V_iw)"))))

. matrix C = C \ A'

. matrix list C

C[2,8]
           d_4         d_3         d_2         d_1          d1          d2          d3          d4
r1  -.30773471  -.11130277  -.03301395  -.07757208    .1165582   .18650336   .20328053   .35265042
c1   .11331469   .09998131   .07005157   .08013109   .04395454   .05063958   .06659786   .10024056

. coefplot matrix(C[1]), vertical se(C[2]) yline(0)  title("ln(Export Value), SA Method")

. graph save "$repfolder\result\F1B.gph", replace
(file H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replication package [public]\result\F1B.gph not found)
file H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replication package [public]\result\F1B.gph saved

. graph export "$repfolder\result\F1B.png",replace
(file H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replication package [public]\\result\F1B.png not found)
file H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replication package [public]\\result\F1B.png saved as PNG format

. 
. *** F2
. use "Sample_firm_ctry_year.dta",clear

. 
. reghdfe ln_export_value tr_indx13-tr_indx15 tr_indx17-tr_indx43 $ctrl2, abs(id_cs ctry_id ind2#year) cluster(ctry_id) keepsing nowarn
(MWFE estimator converged in 54 iterations)
note: tr_indx43 omitted because of collinearity

HDFE Linear regression                            Number of obs   =  5,012,185
Absorbing 3 HDFE groups                           F(  38,    146) =      39.16
Statistics robust to heteroskedasticity           Prob > F        =     0.0000
                                                  R-squared       =     0.3229
                                                  Adj R-squared   =     0.3027
                                                  Within R-sq.    =     0.0043
Number of clusters (ctry_id) =        147         Root MSE        =     1.8327

                              (Std. err. adjusted for 147 clusters in ctry_id)
------------------------------------------------------------------------------
             |               Robust
ln_export_~e | Coefficient  std. err.      t    P>|t|     [95% conf. interval]
-------------+----------------------------------------------------------------
   tr_indx13 |   .1436415   .0818689     1.75   0.081    -.0181598    .3054427
   tr_indx14 |   .1092806   .0480712     2.27   0.024     .0142753    .2042859
   tr_indx15 |   .3157706   .1130585     2.79   0.006     .0923279    .5392133
   tr_indx17 |   .3241347   .0745331     4.35   0.000     .1768316    .4714378
   tr_indx18 |   -.472616   .0719473    -6.57   0.000    -.6148088   -.3304233
   tr_indx19 |  -.1923567   .0855696    -2.25   0.026    -.3614719   -.0232416
   tr_indx20 |  -.0243772   .0526389    -0.46   0.644      -.12841    .0796555
   tr_indx21 |  -.3499952   .0837671    -4.18   0.000     -.515548   -.1844424
   tr_indx22 |   .3922677   .0746724     5.25   0.000     .2446893    .5398462
   tr_indx23 |   .1635739   .0767256     2.13   0.035     .0119376    .3152101
   tr_indx24 |  -.2273201   .0720708    -3.15   0.002    -.3697569   -.0848834
   tr_indx25 |  -.2204254    .094641    -2.33   0.021    -.4074687   -.0333821
   tr_indx26 |   .2523075   .0751479     3.36   0.001     .1037893    .4008258
   tr_indx27 |   .1171908   .1308677     0.90   0.372    -.1414491    .3758307
   tr_indx28 |   .5622477   .0946914     5.94   0.000     .3751047    .7493906
   tr_indx29 |   .1388469   .0393335     3.53   0.001     .0611103    .2165835
   tr_indx30 |   .1366482   .0392817     3.48   0.001     .0590139    .2142825
   tr_indx31 |   .1253087   .0824183     1.52   0.131    -.0375785    .2881958
   tr_indx32 |   .1493184   .0675267     2.21   0.029     .0158623    .2827745
   tr_indx33 |   .0520171   .0336036     1.55   0.124    -.0143951    .1184294
   tr_indx34 |   .1712648    .036749     4.66   0.000      .098636    .2438935
   tr_indx35 |   .3035787   .0495942     6.12   0.000     .2055634    .4015941
   tr_indx36 |    .200615    .058895     3.41   0.001     .0842181    .3170118
   tr_indx37 |   .3643733   .0652839     5.58   0.000     .2353498    .4933969
   tr_indx38 |   .1019425   .0373245     2.73   0.007     .0281765    .1757085
   tr_indx39 |   .0080716   .0653626     0.12   0.902    -.1211075    .1372508
   tr_indx40 |   .0303162    .047187     0.64   0.522    -.0629417    .1235741
   tr_indx41 |   .0317371   .0520422     0.61   0.543    -.0711162    .1345905
   tr_indx42 |   .0026857   .1565398     0.02   0.986    -.3066912    .3120625
   tr_indx43 |          0  (omitted)
        LNTA |   .1854449   .0119762    15.48   0.000     .1617758    .2091139
         LEV |   .0394144   .0068306     5.77   0.000     .0259148    .0529139
         ROA |    .281837   .0194483    14.49   0.000     .2434004    .3202735
       GDP_g |   .0031566   .0012599     2.51   0.013     .0006665    .0056466
   ln_GDP_pc |    .392076   .1159142     3.38   0.001     .1629894    .6211626
   EXP_ratio |  -.0037405    .001194    -3.13   0.002    -.0061004   -.0013807
   IMP_ratio |   .0040068   .0012078     3.32   0.001     .0016197    .0063938
     polity2 |   .0015503   .0040083     0.39   0.699    -.0063715    .0094721
     FDI_NIF |  -.0002913   .0002782    -1.05   0.297    -.0008411    .0002585
       _cons |   5.085906   1.160617     4.38   0.000     2.792126    7.379685
------------------------------------------------------------------------------

Absorbed degrees of freedom:
-----------------------------------------------------+
 Absorbed FE | Categories  - Redundant  = Num. Coefs |
-------------+---------------------------------------|
       id_cs |    144546           1      144545     |
     ctry_id |       147         147           0    *|
   ind2#year |       416           2         414     |
-----------------------------------------------------+
* = FE nested within cluster; treated as redundant for DoF computation

. coefplot , keep (tr_indx13 tr_indx14 tr_indx15 tr_indx17 tr_indx18 tr_indx19 tr_indx20 tr_indx21  tr_indx22 tr_indx23 tr_indx24 tr_indx25 tr_indx26 tr_indx27 tr_indx28 tr_indx29 tr_indx30 tr_indx31 tr_indx32 tr_
> indx33 tr_indx34 tr_indx35 tr_indx36 tr_indx37 tr_indx38 tr_indx39 tr_indx40 tr_indx41 tr_indx42 tr_indx43) xline(0)  title("") label

. graph save "$repfolder\result\F2.gph", replace
(file H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replication package [public]\result\F2.gph not found)
file H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replication package [public]\result\F2.gph saved

. graph export "$repfolder\result\F2.png",replace
(file H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replication package [public]\\result\F2.png not found)
file H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replication package [public]\\result\F2.png saved as PNG format

. 
. log close
      name:  <unnamed>
       log:  H:\Research Project 3\Dong-Sibo\Aid_Trade\replication\code\replication package [public]\\result\log_file_main.log
  log type:  text
 closed on:  24 Feb 2025, 16:06:27
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
